There is a simple formula that is used to determine how much you owe in property taxes, however if your property is valued incorrectly, you could be overpaying. Tim Rye and Adam Pabarcus from our property tax appeals team recently sat down with Bill Griffith to discuss the property tax appeals process and to
You Received a Truth-in-Taxation Form and Your Property is Overvalued—Now What?
If you own property in Minnesota, you should have recently received a truth-in-taxation form showing the assessed value of your property for taxes payable in 2024. If you think your property has been overvalued, you may have options to reduce it.
What is the Truth-in-Taxation Form?
The purpose of the truth-in-taxation notice is to enhance
Fair Property Taxes to Avoid Overpaying
Businesses face any number of headwinds. High interest rates, inflation, work shortages, and supply chain problems are just a few. Don’t let this list include overpaying on your property taxes.
As the saying goes, the only certain things in life are death and taxes. But that doesn’t mean you have to accept your property taxes
Airport Concession Fees Are Not Rent in Property Taxation
In a groundbreaking ruling, the Minnesota Supreme Court affirmed a tax court decision requiring tax assessors to exclude the airport’s concession fees from rent-based valuations for property tax purposes. The case offers a flight plan to lower taxes at many of the nation’s transportation hubs and underscores the importance for all taxpayers to exclude business
Larkin Hoffman’s Real Estate and Construction Attorneys Recognized in The Best Lawyers in America® for 2021
Every year attorneys from Larkin Hoffman receive recognition for their efforts to assist in a variety of complex issues relating to land use and zoning, real estate, environmental regulation, construction, eminent domain and condemnation, and tax law. This year a number of the firm’s real estate and construction practice attorneys have been selected by their
New Podcast Series: Land Use and Real Estate Issues Affected by the COVID-19 Crisis
Welcome to Larkin Hoffman’s new series of podcasts discussing issues affected by the COVID-19 crisis. Our senior attorneys will address corporate, employment, real estate, construction, franchise, bankruptcy, insurance, litigation, and other matters in this series. The podcasts are 15 minutes long and can be heard at your convenience. Over the next few weeks, there will
How Will COVID-19 Affect Real Estate Values?
Those of us in the real estate practice—and particularly in areas concerning real estate valuation such as eminent domain and property tax appeals—are obviously quite concerned about the impact of the COVID-19 pandemic on our clients’ property values as we all proceed through these very uncertain times. I think about two upcoming quick-take hearings that
When to Consider a Property Tax Appeal
Developers, real estate investors and business owners are appropriately focused on creating profit and high rates of return. Managing property taxes may not be a terribly high priority. However, property taxes are usually the most significant real estate expense incurred by real estate users and have a direct impact on profitability and rates of return.
How Does the Sale of a Property Affect Its Assessed Value?
We frequently get asked about how an assessment will change after an acquisition at a price higher than the assessed value. The answer of course is, it depends.
Assessors use sales ratio studies for the review and equalization of values. A sales ratio shows the relationship between the assessors Estimated Market Value (EMV) and the
Meet Minnesota Tax Court’s Newest Judge: Tamar N. Gronvall
Governor Dayton appointed Tamar N. Gronvall to the Minnesota Tax Court for a six-year term, which began in January 2017 and will expire on January 2, 2023.
Before her appointment to the Tax Court, Ms. Gronvall was General Counsel in the Office of Legal Services at the Minnesota Department of Commerce, where she led a